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Russian Gas Payments Loom Over Europe This Week

ENERGY

Half of Russia’s clients have opened accounts at Gazprombank ahead of gas payment deadlines in the coming weeks according to Russian Deputy Prime Minister Alexander Novak today.

  • European gas buying companies have been trying to seek clarification from the EU how to pay for Russian gas without breaking sanctions. European countries can still buy Russian gas but they require clarity on whether they can pay in rubles.
  • Poland and Bulgaria had gas supplies cut by Russia last month for refusing to pay in rubles.
  • The vast majority of European contracts with Gazprom are settled in euros or dollars. The EU has advised companies to continue paying via the method already in contracts.
  • "In the next couple of days we will see a final list of who's paid in rubles and who's refused." Novak told a forum today.
Energy BulletsCommodities
Energy BulletsCommodities

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